On Tuesday, May 18th, I had a STC (Sell-To-Close) option trade executed on my United States Natural Gas ETF (UNG) Call options. Unfortunately, due to a small form entry error on my part, the order was only partially executed. What I neglected to do, or was unable to do, was set it as an 'all or none' order. So as a result only one of my two call options sold and the actual profit taken on that trade is slightly less half of what I was expecting. At least until the other option sells.

In regards to that other Call option, since the option doesn't expire until October I have plenty of time to wait. To take advantage of that time, I bumped up the sell price to try and make up for the fact that this second sale will result in an extra commission cost. Sadly, the markets are not doing well at this time, and a lot of patience will be required. I don't see any current reason to believe that Natural Gas should decline drastically before recovering. If anything, I may buy a few Call options on UNG with expiration's further out.

A negative of my current strategy is that it does require a great deal of patience still. One example is that I just recently purchased a Call option on Capital Product Partners, LP (CPLP). Currently my stocks and Call option have taken a hit in there value. I am thinking the news about the oil spill in the Gulf of Mexico is adversely affecting it for little actual reason, purely out of sympathy because CPLP deals in the marine freight transportation of oil and gas. Fundamentally CPLP is strong with a fair price and earnings that are more than four times the dividend that it pays out to it's investors. Because of these good marks I will continue to hold the stock. I will be holding on to the Call option because I have until September before it expires, I believe the stock and the option will recover before then, and if I am right I will be able to sell the option for the planned 50% profit.

On another note, I appear to be ITM (in-the-money) with the Call option I sold against my shares of the iShares Silver Trust ETF (SLV). The ETF has pulled back over a dollar from the option strike price that I sold. This is totally unexpected by me, and a little disappointing since I was hoping it would hold above $18.50 at least until after expiration. Unless there is serious need for silver before the close on Friday, it looks like I will be keeping both the premium as well as the shares. That is my opinion, you can take it or leave it. Disclaimer: See bottom of page. http://investorsopinion.blogspot.com